Not quite income tax related but - for the fed w-4 two-earner/multi jobs worksheet...are those wage tables gross income or taxable income (post 401k, etc). Need to figure out if we should be making additional payments next year

"Not quite income tax related but - for the fed w-4 two-earner/multi jobs worksheet...are those wage tables gross income or taxable income (post 401k, etc). Need to figure out if we should be making additional payments next year"

Taxable, I guess. You could probably just set your withholding to 1 person and get a nice refund. You could also do the math to see the combined taxable income per year, the combined withholding per year, and compare that to what you expect to pay in taxes.

It's the IRS playing games - there is a tax law that has been around for a while that basically says you can deduct up to 30% of your AGI by donating land to the government. For example if your AGI is 100k and donate land appraised at 30k to the government then you would reduce your AGI to 70k. Obama signed a 1-yr change for a few years that increased it from 30% up to 50% and then last year made it permanently 50%. The IRS has basically said they aren't happy that people are deducting 50% of their AGI via donating land despite the law changing the deduction from 30% to 50% and while they haven't outright said it - it appears to be because Trump has taken advantage of this deduction.

The are going to enact a change starting the day after Trump is sworn in to make it so anyone that is taking advantage of this tax law has to send in a separate form telling the IRS that they are via a Listed Transaction (retroactive to 2010) - despite the fact that it's clearly denoted on anyone's taxes filed.

you can give each child $14k tax free per year. I'm not sure that you can "roll" the $45k into gifts without paying taxes on it first. I'm pretty sure in most cases the $14k or whatever gift is post-tax dollars.

"you can give each child $14k (and/or spouse) tax free per year. I'm not sure that you can "roll" the $45k into gifts without paying taxes on it first. I'm pretty sure in most cases the $14k or whatever gift is post-tax dollars."

In your scenario, the father could receive the proceeds of the sale (assuming it passed to him upon his mother's death) and cut a check for $14k today (and/or spouse) to as many people as he wishes, and then another $14k Jan 1 (and/or spouse).

The lifetime limit I believe is what's known as the estate tax, i.e. anything above 5 mil. You can give 14k to any individual as many years as you desire tax free while you are living, and if you pass, any estate under 5 mil isn't subject to the estate tax, i.e. 99.8% of people. The 14k per year while you're living doesn't count toward the 5 mil exemption. This is why planners tell wealthy people to unload as much as they can in 14k increments to family members to get down to 5 mil before they pass.

I don't know how taxes would be owed on anything unless securities/RE were immediately liquidated upon transfer from death. Only time you would owe money (without sale proceeds) is if RE was willed to multiple parties and one or more want to keep it and one or more want a buyout. Gets a little hairy there.

The full blown H&R Block software is a bit tricky to learn but once you figure it out it's pretty powerful. You go through it like a step by step wizard, but you can easily go back and update anything once you learn what it's under. It imports previous years data too which is nice.

I am pretty much done, just need to wait for all my 1099s & 1098s to make sure everything matches what I entered. Still poking around for missed deductions. Also need my year end statements from Chase.

A refund date will be provided when available.Please Note:For refund information, please continue to check here, or use our free mobile app, IRS2Go. Updates to refund status are made no more than once a da

A refund date will be provided when available.Please Note:For refund information, please continue to check here, or use our free mobile app, IRS2Go. Updates to refund status are made no more than once a da"

I'm a solo attorney that makes a majority of my income off of settlements/payments from insurance companies. Come tax season the insurance companies send me 1099s for the fees they paid out and of course I enter them into my taxes.

I received all my 1099s over a month ago...save one...which is my biggest one by far.

I was just going to enter the amount as general income from my business...but what if they send the 1099 in after I finish my taxes? Do I have to amend them to include it...or just say "fuck it, I already listed it in my income section". I know its taxed the same, so it shouldn't make a difference. At the same time, I don't want it to raise a red flag with the IRS and have them come rifling through my shit.

Or do I just call the insurance company up and ask them for my 1099? Seems that would be the simplest explanation.

I would call them and ask for the info off of it. They can e-mail it. If they have not prepared it you need the amount and all their other info as it will appear on it so you can make sure it matches up when it hits the IRS.

I would not want to do anything that would trigger a human to stop and review my taxes.

So I refinanced my house twice in 2016 to get lower interest rates. I did no closing costs both times (the costs are not rolled into the loan). Do I still get to deduct the points from taxes? Everything I find online suggest so.

After further review you are right ^^ They want more information from line 40.Every year it's been good then this year this? And on top of that they don't send it out until the day in supposed to get it? The hell